Major Philippine Bank Sees Nation's Wealthy Population Growing.

The Bank of the Philippine Islands (BPI) predicts that the country's population of millionaires will continue to grow due to strong economic growth. BPI Wealth, the bank's asset management arm, aims to capture a significant portion of the high net worth market, with plans to increase its assets under management to 3 trillion pesos by 2026. The Philippines' improving macroeconomic situation and global recovery provide investment opportunities for BPI to attract individuals with liquid assets of at least $1 million. BPI also suggests that it may be a good time to shift to longer-term bonds and expects stocks to become more active as interest rates decline. [Extracted from the article]